Securian Asset Management Inc. acquired a new position in UL Solutions Inc. (NYSE:ULS – Free Report) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,484 shares of the company’s stock, valued at approximately $432,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of UL Solutions by 12.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock worth $125,484,000 after acquiring an additional 167,564 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of UL Solutions by 405.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock worth $42,054,000 after acquiring an additional 476,121 shares in the last quarter. Truist Financial Corp raised its stake in shares of UL Solutions by 1,981.8% during the 3rd quarter. Truist Financial Corp now owns 68,469 shares of the company’s stock worth $4,852,000 after acquiring an additional 65,180 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of UL Solutions during the 3rd quarter worth approximately $1,436,000. Finally, Federated Hermes Inc. raised its stake in shares of UL Solutions by 25.0% during the 3rd quarter. Federated Hermes Inc. now owns 821,596 shares of the company’s stock worth $58,218,000 after acquiring an additional 164,396 shares in the last quarter.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Bank of America boosted their price objective on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Zacks Research upgraded shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research report on Wednesday, May 6th. BNP Paribas Exane began coverage on shares of UL Solutions in a research report on Monday, April 20th. They set a “neutral” rating and a $95.00 target price on the stock. Finally, UBS Group boosted their target price on shares of UL Solutions from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.54.
UL Solutions Stock Down 1.6%
NYSE:ULS opened at $98.95 on Friday. The company has a market cap of $19.94 billion, a PE ratio of 57.87, a P/E/G ratio of 3.85 and a beta of 0.59. UL Solutions Inc. has a twelve month low of $61.64 and a twelve month high of $107.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $88.55 and its two-hundred day moving average is $82.66.
UL Solutions (NYSE:ULS – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. UL Solutions’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. Analysts anticipate that UL Solutions Inc. will post 2.1 EPS for the current year.
UL Solutions Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were issued a $0.145 dividend. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. UL Solutions’s payout ratio is currently 33.92%.
Insider Activity
In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $91.57, for a total value of $1,144,625.00. Following the sale, the chief executive officer directly owned 188,274 shares of the company’s stock, valued at $17,240,250.18. This represents a 6.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gitte Schjotz sold 8,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $103.96, for a total transaction of $831,680.00. Following the completion of the sale, the insider directly owned 81,221 shares in the company, valued at $8,443,735.16. This trade represents a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 39,100 shares of company stock valued at $3,655,055 in the last ninety days. Insiders own 1.20% of the company’s stock.
UL Solutions Company Profile
UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.
The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.
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